THE BANGKO SENTRAL ng Pilipinas (BSP) remains open to further tightening to steer inflation back to its target but feels less pressure to do so after domestic growth weakened anew.
BSP Governor Eli M. Remolona, Jr. on Monday said they could still hike “as much as necessary” to ensure inflation continues to soften and eventually return near their 3% goal.
He also hinted that they are not yet convinced that the latest inflation figures point to a sustained downtrend.
“It’s not really a downtrend. Only one data point in the core (inflation series) slowed,” the BSP chief told reporters in Filipino on the sidelines of a BSP event on Monday.
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